Cover art for podcast Viral Solutions: Your Chief Marketing Officer | Marketing and Business Strategy

Viral Solutions: Your Chief Marketing Officer | Marketing and Business Strategy

355 EpisodesProduced by Thomas von AhnWebsite

On this podcast, we talk about marketing strategies and tactics. Many of our podcast episodes will cover strategic marketing (segmentation, targeting, positioning, market orientation, branding, and offering development), but we will also discuss tactical marketing (Facebook advertising, email market… read more

17:30

The Importance of Actually Using Marketing Data

You’ve glanced at your social media insights from time to time.

You’ve set up your Google Analytics account, and you’ve linked it to Google Search Console.

You know there’s a “Reports” tab in your email marketing software that will show you who opens what emails and so forth.

You know you should dig into all of this data, but seriously…it’s too much! Who has the time to weed through all of it and try to turn it into a working marketing strategy that can benefit your company?

We get it, really we do.

Nevertheless, we want to drive home just how important it is to actually use your marketing data.

Why? Because when you apply what you’ve learned about your customers through marketing data, you’ll be able to make adjustments that will strengthen your marketing efforts… BIG TIME.

We mean it when we say “big time.” The impact that marketing data has on companies is no small thing. Just take a look at some of the many statistics that prove this point:

  • A survey of top executives led by Forbes Insights in association with Turn indicated that data-driven marketing leaders report that they’ve gained a competitive advantage in increasing profitability by 45% and that their customer retention has increased by 74%.
  • The survey also indicated that almost 75% of leaders report that they are seeing increased customer engagement due to their data-driven marketing efforts.
  • Furthermore, it stated that about 67% of the leaders are gaining new customers as a result of their data-driven strategies.

Let’s look at some of the reasons why data marketing is so powerful.

With Marketing Data, You Can Actually Have a Marketing Strategy

Probably the biggest reason to use your marketing data is that it allows you to create a marketing strategy that is unsurpassed.

All marketers claim to use marketing strategies, but here’s the thing: Without the use of data-driven marketing, you’re really just guessing, and you can’t call it a marketing strategy if you’re guessing your way through it.

If you’re finding yourself constantly trying random marketing ideas, it’s time to realize you don’t really have a marketing strategy.

Marketing data allows marketers to create a full-blown marketing strategy that random marketing decisions based on guessing simply can’t live up to—not even close.

We’re talking about customer transactional and behavioral data that gives you information such as the following:

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